EUR/USD Technical Analysis: Euro bulls defending 1.1530 level ahead of FOMC minutes

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  • EUR/USD is trading in a bear leg below its 200-period simple moving average (SMA) ahead of the FOMC minutes released at 18:00 GMT. 
  • EUR/USD bulls are currently holding the price above 1.1530 key level and near the 50 SMA but the RSI, MACD and Stochastic have turned bearish, suggesting that the path of least resistance might be to the downside.
  • However, investors must be aware that everything can change with the release of the FOMC minutes later this Wednesday.

EUR/USD 4-hour chart


	EUR/USD Technical Analysis: Euro bulls defending 1.1530 level ahead of FOMC minutes

Spot rate:             1.1535
Relative change:  0.36%  
High:                    1.1581
Low:                     1.1521

Main trend:             Bearish

Resistance 1:   1.1569 Sept. 28 low
Resistance 2:   1.1600 figure
Resistance 3:   1.1630 August 8 high key level
Resistance 4:   1.1654 August 27 high

Support 1:   1.1530 August 23 swing low (key level)
Support 2:   1.1500 figure and October 2 swing low 
Support 3:   1.1463 October 4 low
Support 4:   1.1430 October 9 low

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